The U.S. president plans to reinstate all of the sanctions that had been waived as part of the deal while also slapping on new “economic penalties,” a person briefed on the conversation told the news outlet.

France, the U.K. and Germany, the three European co-signatories on the deal, have been working with the Trump administration in recent weeks in an attempt to change Trump’s mind.

Officials from all three countries visited Washington, D.C., to make their appeals in person, to no avail. The discussions fell apart, a second person familiar with the negotiations said, around limits on Iran’s nuclear output after 2030.

The president has been critical of the 2015 agreement meant to curb Iran’s nuclear program, calling it “one of the most incompetently drawn deals I’ve seen” last October.

Trump is expected to make a formal announcement on the agreement at 2 p.m. ET Tuesday at the White House.